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What’s Going On With Cannabis Stocks Wednesday?

By Adam Eckert
April 17, 2:23 PM
On Tuesday, cannabis stocks fell in early trading before rebounding and trending higher in the afternoon. Some of the upward momentum may have been a result of executive commentary from the Benzinga conference. Wednesday marks the final day of Benzinga's Cannabis Capital Conference in Hollywood, Florida.

CGC

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Another Cannabis Pioneer Expands In Germany Via Acquisition As Experts Say ‘There’s No Stepping Back’ From Legalization Wave

By Jelena Martinovic
April 17, 12:28 PM
Flora Growth Corp. has entered into a definitive agreement to acquire all of the issued and outstanding shares of Hamburg, Germany-based TruHC Pharma GmbH. The company's latest move to further cement its global footprint comes on the heels of a new German cannabis law that went into effect on April 1, which partially legalized cannabis. The new law allows adults over 18 in Germany to legally possess up to 25 grams of dried cannabis and cultivate up to three marijuana plants at home.As previously announced, Flora agreed to purchase TruHC Pharma GmbH in an all-stock deal in exchange for 2,770,562 of its common shares, valued at $6.4 million.

ACB

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Ancillary Cannabis Co.’s Stock Surges On News Of Merger With California Provider Of CEA Products And Solution

By Jelena Martinovic
April 17, 10:16 AM
Nature's Miracle Holding Inc. (NASDAQ: NMHI) has entered into a term sheet to acquire 100% of all the outstanding shares of Agrify Corporation (NASDAQ: AGFY).The California-based integrated agriculture technology company that provides equipment and services to the controlled environment agriculture industry said on Wednesday that it would issue shares of its common stock to acquire Agrify.Agrify's equity is valued at $6.35 million, or $0.4185 per share.The deal is expected to bring a meaningful revenue stream for Nature's Miracle through Agrify's powerful SaaS and AI technology.

AGFY